Hanergy Thin Film Power Group is making a concerted push into the Chinese residential market with a new thin-film rooftop solar power system and other products.
The Chinese company, which released more than 20 residential products, has opened 60 retail stores and so-called experience centers across China as well as new online outlets, including hanergyshop.com.
Liu Min, deputy chairman of Hangery ThinFilm Power Group and chairman and CEO of Hanergy Global Solar Power and Applications Group, said the implementation of the company’s "all-channel sales strategy" would accelerates the spread of thin-film solar power products for consumer use.
The move comes as Hanergy seeks to diversify sales in 2013 and 2012, its parent company was its sole source of revenue.
While the groups market value has more than doubled since January to about $36 billion, making it the best performer on the 125-company NYSE Bloomberg Global Solar Energy Index, its business has attracted increasing scrutiny from financial analysts who have sought to ascertain why the companys shares have risen fivefold in the past year.
The first 60 Hanergy thin-film flagship stores and experience centers in China are located in 21 provinces and cities, including Chengdu, Shanghai, Guangzhou, Shenyang and Xian. Hanergy plans to expand its domestic presence to 300 experience centers by the end of 2015 and 1,500 in 2017.
Hanergys experience centers currently exhibit and offer building-integrated PV products as well as thin-film solar products for residential, consumer and agricultural use, including the new residential system released at a launch event on Saturday.
The companys new residential rooftop power station is available in four models, 1.5 kW, 2 kW, 3 kW and 5kW. Each model offers two designs tailored for flat or slanted rooftops.
Hanergy provides standardized one-stop services that include system design, grid connection application, components supply, site operation and data monitoring.
The group said it was also introducing the residential systems in the United Kingdom and other European countries.
In the U.K., furniture retailer IKEA began carrying Hanergy residential PV products in 2013. Hanergy has also expanded its residential systems into the Netherlands, Switzerland, Poland and other European markets.
In China, Hanergy cooperated with the Yumen municipal government in Gansu province to build a distributed PV project in Dongqu Village. The project, which was completed in October, optimized dilapidated farm buildings by renovating them into apartment buildings equipped with Hanergys thin-film technology, allowing them to generate their own electricity and feed any surplus into the grid.